Bitcoin, Solana Rise as U.S. and China Agree to Trade Talks Ahead of Key Bond Auction
Bitcoin's price rose to approximately $108,000, a 1.7% increase, while Solana increased by 2.9% to $156. Altcoins like Hyperliquid surged by 7% to around $38. China's Vice Premier He Lifeng is in the UK for U.S.-China trade consultations, following a positive phone call between President Trump and Xi Jinping. Trump's recent trade policies, including a 90-day tariff pause, have led to increased tensions with China. The Congressional Budget Office projects Trump's One, Big Beautiful Bill will add $2.4 trillion to the deficit, raising concerns about long-term U.S. bonds. Analysts warn that poor bond auction results could negatively impact risky assets, including cryptocurrencies. A recent poorly received bond auction caused Bitcoin to drop 2.4%. Current yields on 30-year bonds remain at 4.962%. Concerns about U.S. debt may lead to a decline in the dollar's value, similar to trends seen with gold.
